Cardinal Health Inc. (NYSE:CAH) has earned an average recommendation of “Buy” from the seventeen research firms that are covering the stock. Eight research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $94.94.
Several research firms have recently weighed in on CAH. Bank of America Corp. reiterated a “hold” rating and issued a $90.00 price target on shares of Cardinal Health in a report on Monday, September 19th. Goldman Sachs Group Inc. cut shares of Cardinal Health from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $90.00 to $83.00 in a report on Friday, September 16th. Morgan Stanley restated a “hold” rating and set a $91.00 target price on shares of Cardinal Health in a report on Monday, September 12th. Credit Suisse Group AG restated a “buy” rating and set a $97.00 target price on shares of Cardinal Health in a report on Tuesday, August 30th. Finally, Zacks Investment Research upgraded shares of Cardinal Health from a “sell” rating to a “hold” rating in a report on Monday, August 8th.
In related news, SVP Stuart G. Laws sold 9,703 shares of the firm’s stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $82.45, for a total transaction of $800,012.35. Following the transaction, the senior vice president now directly owns 2,718 shares of the company’s stock, valued at $224,099.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Donald M. Jr. Casey sold 59,180 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $83.59, for a total transaction of $4,946,856.20. Following the transaction, the chief executive officer now directly owns 164,803 shares in the company, valued at $13,775,882.77. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in CAH. Acrospire Investment Management LLC acquired a new position in Cardinal Health during the first quarter worth approximately $107,000. Integrated Investment Consultants LLC raised its position in Cardinal Health by 15.4% in the second quarter. Integrated Investment Consultants LLC now owns 1,459 shares of the company’s stock worth $114,000 after buying an additional 195 shares in the last quarter. JFS Wealth Advisors LLC raised its position in Cardinal Health by 8,281.0% in the second quarter. JFS Wealth Advisors LLC now owns 1,760 shares of the company’s stock worth $137,000 after buying an additional 1,739 shares in the last quarter. Advisory Services Network LLC raised its position in Cardinal Health by 398.2% in the second quarter. Advisory Services Network LLC now owns 1,948 shares of the company’s stock worth $152,000 after buying an additional 1,557 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Cardinal Health by 27.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,480 shares of the company’s stock worth $193,000 after buying an additional 530 shares in the last quarter. 85.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of Cardinal Health (NYSE:CAH) opened at 77.70 on Friday. Cardinal Health has a one year low of $73.25 and a one year high of $91.23. The company has a market capitalization of $24.75 billion, a PE ratio of 17.99 and a beta of 0.59. The company’s 50-day moving average is $79.42 and its 200-day moving average is $80.34.
Cardinal Health (NYSE:CAH) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $1.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.01. The company earned $31.40 billion during the quarter, compared to analysts’ expectations of $31.06 billion. Cardinal Health had a net margin of 1.17% and a return on equity of 26.09%. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Equities analysts predict that Cardinal Health will post $5.59 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Monday, October 3rd will be given a $0.4489 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, September 29th. Cardinal Health’s payout ratio is presently 41.67%.
Cardinal Health Company Profile
Cardinal Health, Inc is a healthcare services and products company. The Company operates in two segments: Pharmaceutical and Medical. The Company also provides medical products to patients in the home. In the United States, the Company’s Pharmaceutical segment distributes branded and generic pharmaceutical, over-the-counter healthcare and consumer products through its Pharmaceutical Distribution division to retailers, hospitals and other healthcare providers.
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